You need to determine what the cost of the property was and the cost of the land component of it. Then you enter it as an asset in TurboTax, noting the date it was placed into service. TurboTax will calculate the accumulated depreciation so you don't need to worry about that.
Follows these steps:
1. In the Wages and Income section find Rental Properties and Royalties and edit it to bring up your rental property
2. Find the Assets section in the list and edit or start it
3. Enter in the property using the Rental Real Estate Property option
4. Choose Residential Rental Real Estate if that describes the property
5. Enter in the Cost, land value and date purchased
6. Indicate whether your purchased the asset or select another option
7. Enter the percent of business use and date put into service
8. The prior depreciation will be displayed, if correct just continue (approx. cost divided by 27.5 years for residential property times years in service)
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